150 OTTAWA HOTEL DEVELOPMENT, LLC (MI) - 2020 PPP Loan Borrower Profile (# 7621347007)

Updated on April 18, 2025.

See below the business details and the detail of the 2020 PPP loan given to 150 OTTAWA HOTEL DEVELOPMENT, LLC. The Paycheck Protection Program (PPP) loan was intended to provide incentives for small businesses to keep their workers on payroll.

You can see similar information for other borrowers in Michigan.

Loan Detail

Loan Number

7621347007

SBA Office Code

0515

Processing Method

PPP

Curent Loan Amount

$230,725

Date Loan was Approved

Apr 7, 2020

Amount Forgiven

$232,431.73

Date Loan was Forgiven

Jan 11, 2021

Loan Status

Paid in Full

Loan Term

24 Months

Utilities Proced

25,000

Payroll Proced

171,658

Mortgage Interest Proceed

21,145

Health Care Proceed

12,922

Lender

Mercantile Bank

Business Detail

Business Type

Limited Liability Company(LLC)

NAICS

531120

Borrower Location

GRAND RAPIDS, MI

Project Location

GRAND RAPIDS, MI

Rural/Urban

Urban

Hubzone

Yes

Labor Market Information (LMI)

Jobs Reported

Business Age Description

Existing or more than 2 years old

Data Source: SBA.